New York oil price broke $ 98 level is the main cause of the weak dollar.

: Http://finance. Hearing, by the dollar fell and the market is expected to decline in U.S. commercial crude oil inventories and other factors, New York crude oil futures prices 7 hours electronic trading in Asia exceeded $ 98 a barrel, setting a record. .In Asian electronic trading hours that day, the New York Mercantile Exchange, light sweet crude for December delivery futures prices climbed to $ 98.03 a barrel, but then fell back. .Market analysts said that in the next few days, oil prices still remain high pressure and is likely to break through 100 U.S. dollars a barrel mark. .American Road - Jones 6 Cable News Agency released a report showed U.S. commercial crude oil inventories last week, is expected to decline about 160 million barrels, which increased investor concerns about oil supply. .In addition, U.S. 6 New York trading, a record low against the euro, also increased the dollar-denominated crude futures attractive to investors, thus pushing up oil prices played a role. .According to Reuters, analysts believe that rising oil prices caused by OPEC because there is a border area with Turkey, northern Iraq tensions. .Continued tension in the region has led to fears that Iraq's oil production may therefore suffered a major blow to the supply of crude oil on international markets adversely affected. .Kuwaiti oil experts killed in Leba 6 Antonio Di Natale said the international market oil prices affected by many factors, the depreciation of the dollar is one of the most important factor. .As long as the U.S. dollar remain weak, oil prices will skyrocket. .Palestinian killed in the Kuwait News Agency in an interview that a large part of the increase in oil prices was to compensate for the Gulf oil producing countries brought about by the depreciation of the dollar economic losses, because the major oil producers as crude oil exports are denominated in U.S. currency of settlement ., and paid in euros of goods imported from Europe. .Thus, the Gulf countries, while achieving a high fiscal surplus, but the dollar fell against the euro continue to influence the cost of imports to increase, leading to a general increase in domestic inflation rate. .Palestinian killed in the forecast, international crude oil prices could soon break through 100 U.S. dollars a barrel mark. .If the United States in 2008 increased tensions with Iran, oil prices could rise to 120 dollars a barrel. .According to Xinhua News Agency, New York, November 6 - As the market worries about the U.S. economic outlook has not and is expected to ease the Federal Reserve would cut interest rates further, 6 New York trading the dollar-euro and sterling parity to new lows. .Yao City the day when New York trading, the euro against the U.S. dollar from the previous trading day increased to a ratio of 1 to 1.4471 1.4554, a new record; pound against the U.S. dollar rose to 2.0806 from 1 to 1 ratio of 2.0868, trading against the U.S. dollar was once .rose 1 to 2.0906 for the 26-year high. .Analysts believe that the recent Citibank Group, including the United States, including major U.S. banks and securities firms have announced writedowns of assets, which increased the traders on the subprime mortgage crisis and concerns about U.S. economic outlook. .In addition, the market expected the Fed to continue cutting interest rates to stimulate economic growth, is also expected this week, the European Central Bank will raise eurozone interest rates led, these factors have prompted the U.S. dollar interest rates..